Indian drone developer Raphe mPhibr, known for its light carbon-fiber composite drones, raised $100 million in Series B funding.
The funding will be used for research, development, and local production capabilities as drone usage increases for military and surveillance purposes.
Raphe mPhibr produces its own components like batteries, flight controllers, and materials domestically, with plans to manufacture radars and cameras in-house.
The company currently has over 600 employees and has sold more than 1,870 drones, primarily to Indian government agencies like the Army, Navy, and Air Force.